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Coinbase to Add Worldcoin and Perpetual Futures Products for the Ordinals Next Week

Coinbase International Exchange intends to debut Worldcoin and Ordinals perpetual futures products on April 11th.

The exchange, renowned for offering institutional clients access to more than 30 perpetual futures and spot markets, is expanding its offerings to include perpetual futures, also recognized as perpetual swaps—a variant of derivative contracts. The trading symbols for these products will be ORDI-PERP for Ordinals perpetual futures and WLD-PERP for Worldcoin perpetual futures.

The WLD Token

Worldcoin aims to establish itself as the premier privacy-centric global human identity and financial network, granting ownership to individuals worldwide. Founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania, Worldcoin’s native token, WLD, serves as a utility token imbued with governance features, enabling users to participate in shaping the protocol’s future direction.

The ORDI Token

ORDI is a cryptocurrency built on the Bitcoin protocol, offering a unique feature wherein text, images, and other data are represented as NFTs (Non-Fungible Tokens) and tokens. The Ordinals protocol embeds information into each Satoshi, encompassing text, images, audio, and video. The bulk of ORDI tokens have been distributed to users through a process known as airdropping.

What Are Perpetual Futures Contracts?

Perpetual futures, also referred to as perpetual swaps or contracts, represent a derivative financial tool commonly traded across cryptocurrency exchanges. Distinguishing themselves from traditional futures contracts, perpetual futures lack an expiration date. This feature enables traders to maintain their positions indefinitely, provided they uphold the stipulated margin and other exchange criteria.

Moreover, perpetual futures closely track the price movements of the underlying asset, typically a cryptocurrency such as Bitcoin or Ethereum. These contracts settle periodically to align with the spot price of the asset.

To prevent significant deviations of the perpetual futures price from the spot price, funding mechanisms come into play. Funding payments are exchanged between long and short positions to help sustain the perpetual futures price in harmony with the spot price.

Traders leverage perpetual futures for diverse purposes, including speculation, hedging, and arbitrage. However, it’s crucial to recognize the substantial risks involved in trading perpetual futures, including market volatility and the potential for liquidation if margin requirements are not maintained.

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